ASSET BASED LENDING / Lines of Credit

Asset Based lending is available through collateral that includes anything having commercial or exchange value, that is owned by a business, institution or individual. For example, an individual's assets might include a residence, stock portfolio, investment real estate, gold coins, and bank accounts. A businesses' assets may include inventory, machinery, commercial property, furnishings, equipment.

Cash when you need it.

When you need cash, you need it now. And that’s exactly when you get it with a Commercial Line of Credit or Asset Based Loan. The line/Loan is secured by your accounts receivable, inventory, or real estate, and is designed for businesses with good collection and accounting departments.

 BUSINESS LOANS GET DIFFICULT AS BANKS BEGIN TO TIGHTEN

Only a year few years ago, the economy was booming and banks and other lenders were aggressively seeking companies in search of funding. As former Federal Reserve Chairman Alan Greenspan's economic "soft landing" ushered in a new, more conservative business climate, the once wide-open loan window is beginning to slam shut for many.

Since the spring of 2000, banks have gradually gone from "no problem" to "no way" as they tighten their credit standards in the face of problem loans and declining credit quality. In what has been described as "a slow-motion credit crunch," many banks have notified their asset-based clients that their credit lines are being reduced or eliminated. 

Available credit lines.

Commercial credit lines and Asset Based Loans are available from $50,000 -$100,000  or up to $10 million+, based on your specific needs and qualifications. Advance rates range up to 85 percent or more on receivables and 50 percent on inventory.

Why Use a Commercial Line of Credit or Asset Based Loan? 

• Gives you quick access to cash, usually within 24 hours of your request after your account is set up.
• As flexible as you need to be – draw on the line only when and for the amount you need.
• Protects your relationship with your customers. Generally, they’re only notified to provide them with a new address to which to send payments.
• Extremely flexible – as conditions warrant, we will work with you to move you to a lower cost Commercial Line of Credit.
• You work directly with the decision makers.
• You stay in control of customer accounts through regular billing and payment reports

Assets of Value

You can use almost any unencumbered asset as loan collateral:

• Accounts receivable
• Inventory
• Equipment
• Real estate

Maximize Your Business Success

Our extensive resources and experience provide you with the maximum financial leverage and valuable benefits:

• Fast and efficient response to loan requests
• Financial solutions tailored to your individual requirements
• Close client relationships
• Competitive rates
• Strong financial resources

How it works.

1. After You apply and you are accepted
2. The Funder files a UCC1
3. Funder sets up a line of credit or a business loan for your company based on an agreed amount.
4. You notify the Funder when you want to draw on the line of credit or access the loan.
5. The agreed upon amount is deposited into your business checking account.
6. You are then sent a statement each month showing the activity on the line of credit or loan.
7. You make a monthly payment for the interest charged for that month.

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